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news.Continuing its expansion in Europe, Bioxel Pharma has begun commercial deliveries of paclitaxel to one of the largest European generics companies.
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Bioxel’s paclitaxel active pharmaceutical ingredient (API) will be used by its client, which remains undisclosed, in generic drug product marketed primarily in Europe. This first order is valued at C$340,000 and is expected to result in recurring revenues starting in Q4 2006.
Bioxel manufactures and sells current good manufacturing practices (cGMP) compliant paclitaxel to specialty pharmaceutical companies and generic formulation manufacturers. The company’s dedicated cGMP paclitaxel facility has a 120kg annual manufacturing capacity.
“This is a very important milestone for Bioxel as it shows a leading generic company with worldwide marketing reach committed to the use of Bioxel’s API for its finished product” said Pascal Delmas, president and CEO of Bioxel. “The EU expansion program we initiated in 2005 has allowed us to diversify our customer base, resulting in new revenue streams – and future revenue growth.”
Bioxel also revealed that it is making progress with the development of semi-synthetic taxanes. The company is developing these taxanes in line with its aim to provide a broader product line, which will include docetaxel, by 2007.